Ocean Sky International Limited - Ocean Sky International Ltd ...

Accordingly, the Company’s ordinary shares held by an individual are subject to Singapore estate duty
upon such individual’s death, where such individual is domiciled in Singapore. Singapore estate duty is
payable to the extent that the value of the ordinary shares aggregated with any other assets subject to
Singapore estate duty exceeds S$600,000. Unless other exemptions apply to other assets, for example,
the separate exemption limit for residential properties, any excess beyond S$600,000 will be taxed at 5%
on the first S$12,000,000 of the individual’s Singapore chargeable assets and thereafter at 10%.
Individuals should consult their own tax advisors regarding the Singapore estate duty consequences of
their ownership of the Company’s ordinary shares.
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